This has not been the market for the inflexible or inexperienced. Maples Fund Services has been quick to adapt to changing client needs and, as such, has retained a relatively stable business in one of the worst environments in hedge fund history.
The first of its adaptations has been to accommodate the increased use of managed accounts among its client base. Institutional investors are increasingly steering alternative investments into managed accounts to gain greater control, transparency and liquidity, and are keen to move away from the risks associated with pooled asset structures.
Administration and oversight of multiple managed accounts requires the integration and aggregation of data from multiple sources in diverse formats. It requires accounting expertise and the delivery of consolidated reporting of underlying positions.
This has proved a step too far for many administrators, but Maples has used its existing accounting engine to deliver a proprietary managed accounts reporting platform, which has enabled clients to analyse data from multiple managers, prime brokers and data vendors.
Maples also converted its core accounting engine to Advent Geneva in 2010 – supported by Paladyne – for the automated import of trade activity and market data; automated reconciliation and custom data extracts for portfolio analysis; and reporting for managers and investors. This has helped it to deliver the customised solutions on which its clients rely.
New business has been drawn to the customised approach of the Maples platform, which can be adapted for a whole range of individual hedge fund requirements. Maples attributes its success to a combination of highly qualified and experienced professionals supported by bespoke and cutting-edge technology.
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